Updated Oct 29, 2024
Dermody Properties Acquires Industrial Campus In Lacey For $132M
3301 Hogum Bay Road Northeast Lacey, Washington 98516, USA
$132,000,000
$184/SF
Building Size
717,000 SF
Asset Type
Industrial
Closing
Jul 12, 2023
About this deal
AI
Dermody Properties, represented by Ben Seeger, has acquired an industrial campus in Lacey, WA for $132 million. The 717,000-square-foot campus, known as Lacey I-5 Logistics Center, was developed by Bridge Industrial and is currently leased by Amazon. It consists of three buildings and is located at 3301 Hogum Bay Rd NE.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $132,000,000
- Square Footage: 717,000
- Price per Square Foot: $184
- Address: 3301 Hogum Bay Rd NE, Lacey, WA
- Market: Lacey, WA
Ben Seeger, representing Dermody Properties, led the purchase of the industrial campus, securing a significant asset in Lacey's real estate market. This strategic move allows Dermody Properties to expand its industrial portfolio and benefit from the existing lease agreement with Amazon. The acquisition of the Lacey I-5 Logistics Center adds to Dermody Properties' impressive portfolio of industrial properties.
On the Map
$132,000,000
$184/SF
Industrial
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Players
Lacey Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93